Horngren’s Cost Accounting A Managerial Emphasis, Canadian 9th edition soluti...
2009 New Market Tax Credits Workshop Materials
1. Community Development Financial Institutions (CDFI) Fund New Markets Tax Credit Program FY 2009 Workshop January 2009
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29. Summary Graphic Community Development Entity (For-profit only) Financial Counseling Investing in or Lending to CDEs CDFI Fund Private Investors Investing in or Lending to QALICBs Purchasing Loans from CDEs CDEs must make QLICIs within 12 months of receipt of Investor QEIs CDE must offer credits to investors within 5 years QEI must stay invested in CDE for 7 years
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44. 2009 Round Deadlines (Anticipated) Additional details to be addressed in NOAA April 10, 2009 Attachments and signature page must be postmarked on or before June 17, 2009 Date by which prior-year allocatees must issue the requisite percentage of QEIs March 3, 2009 CDE Certification Applications must be postmarked on or before April 6, 2009 Last day to contact the CDFI Fund Date Deadline April 8, 2009 Online Submission of Allocation Application January 2009 Release of NOAA and application materials
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55. Selection Process Peer Review Fund staff & external reviewers evaluate and score applications. Panel Review Applications that meet minimum scoring thresholds in each of the four major application sections are sent to a Fund panel for consideration. Selection of Applicants Selecting Official makes final determinations based upon panel recommendations. During Panel the CDFI Fund will review past transactions from Prior Allocatees . Adjustments may be made to the final pool to ensure proportional representation from CDEs serving Non-Metropolitan Counties.
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58. Review Process Timeline Oct. 2009 Allocation Applications Due Peer Review Panel/Selecting Official Review Award Announcements Award Processing April 8, 2009 May – June 2009 July – Aug. 2009 Aug. – Sept. 2009
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61. $ Requested/$ Awarded Total-$30.4B 11.5% Award Rate 8.7% Award Rate Total- $22.9B Total-$28.3B 14.5% Award Rate ($ in Billions) Total-$27.9B 16% Award Rate Total-$21.3B 14% Award Rate
62. *Please note that the allocation amount represented in this chart does not total $3.5 billion awarded, since some allocatees are classified in more than one entity type category (e.g. some CDFIs are also counted as non-profits; some banks are also counted as publicly traded entities) and some allocatees do not fall under any of the categories identified. Sixth Round Allocatees* Award Amount by Entity Type
63. ($ in Millions) Major Urban 50.6% Rural 25.6% Minor Urban 23.8% Market Served (6 th Round Allocatees) Estimated Use of NMTC Sixth Round
64. ($ in Millions) Real Estate 52 % Loans/Investments Other CDEs 1 % Non-Real Estate Businesses 47 % Estimated Activities (6 th Round Allocatees)
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